World Business Briefing | Asia: Malaysia: Tax Cut Only For Small Business

Malaysia, forecasting growth of as much as 6.5 percent next year, limited a widely expected corporate tax cut to small companies as it focused on reducing government spending. Prime Minister Mahathir Mohamad, left, said that Malaysia would cut to 20 percent from 28 percent the income tax on the first 100,000 ringgit ($26,330) of chargeable income for Malaysian companies that have paid-up capital of 2.5 million ringgit ($685,240) or less.